For honest and ethical appraisals, trust northdakotaappraisals.com

We think of our business as a profession. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question these days that real estate appraisal can definitely be considered a profession rather than a trade. As with any profession we are bound by an ethical code.

As appraisers our main responsibility is to his or her client. Typically, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you want a copy of an appraisal report, you should obtain it through your lender. Other obligations also include, accurate calculations appropriate to the parameters of the assignment, reaching and maintaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at northdakotaappraisals.com, we take these ethical responsibilities very seriously.

Appraisers may often have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary roll is only to those third parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.

There are also ethical standards that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - at northdakotaappraisals.com you can rest assured that we stick to that rule.

When creating reports, we follow the highest ethical standards possible. We don't do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite fraudulent practices since raising the estimate of the home would increase the fee. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines a violation in ethics as accepting of an assignment that is contingent on "the reporting of a pre-determined result (e.g., opinion of value)," "a direction in assignment results that favors the cause of the client," "the amount of a value opinion," as well as other situations. We diligently follow these rules to the letter which means you can rest easy knowing we are going above and beyond to objectively determine the home or property value.

With northdakotaappraisals.com, you can be assured of 100 percent ethical, professional service.